MeadowBrook Investment Advisors LLC Takes $159,000 Position in Toast, Inc. (NYSE:TOST)

MeadowBrook Investment Advisors LLC acquired a new position in Toast, Inc. (NYSE:TOST) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 8,690 shares of the company’s stock, valued at approximately $159,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Morgan Stanley increased its position in shares of Toast by 149.3% during the third quarter. Morgan Stanley now owns 12,007,286 shares of the company’s stock worth $224,896,000 after buying an additional 7,191,595 shares during the period. Vanguard Group Inc. grew its stake in Toast by 11.1% during the third quarter. Vanguard Group Inc. now owns 35,079,123 shares of the company’s stock worth $657,032,000 after purchasing an additional 3,494,579 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Toast by 69.6% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,600,377 shares of the company’s stock worth $120,523,000 after purchasing an additional 2,708,597 shares in the last quarter. Eventide Asset Management LLC lifted its stake in Toast by 82.4% in the third quarter. Eventide Asset Management LLC now owns 2,926,074 shares of the company’s stock valued at $54,805,000 after buying an additional 1,322,208 shares during the period. Finally, ARK Investment Management LLC lifted its stake in Toast by 101.5% in the fourth quarter. ARK Investment Management LLC now owns 2,345,520 shares of the company’s stock valued at $42,829,000 after buying an additional 1,181,409 shares during the period. Institutional investors and hedge funds own 82.91% of the company’s stock.

Toast Trading Up 3.6 %

Shares of Toast stock traded up $0.82 on Monday, hitting $23.56. 7,113,008 shares of the company traded hands, compared to its average volume of 7,950,186. The company has a market cap of $10.63 billion, a P/E ratio of -46.20 and a beta of 1.77. Toast, Inc. has a 12-month low of $13.77 and a 12-month high of $27.00. The firm’s 50-day simple moving average is $23.55 and its 200 day simple moving average is $19.44.

Toast (NYSE:TOST) last posted its quarterly earnings data on Thursday, February 15th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.04. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Toast had a negative return on equity of 21.77% and a negative net margin of 6.36%. The company’s revenue for the quarter was up 34.7% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.19) EPS. Analysts predict that Toast, Inc. will post -0.22 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Robert W. Baird lifted their price objective on shares of Toast from $24.00 to $28.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. BNP Paribas upgraded shares of Toast from a “neutral” rating to an “outperform” rating and set a $30.00 price objective for the company in a report on Thursday, March 7th. Wells Fargo & Company boosted their target price on shares of Toast from $15.00 to $17.00 and gave the company an “underweight” rating in a research note on Friday, April 12th. Piper Sandler raised their price target on shares of Toast from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Friday, February 16th. Finally, The Goldman Sachs Group increased their target price on shares of Toast from $26.00 to $29.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $24.32.

Insider Activity

In other Toast news, insider James Michael Matlock sold 1,205 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $23.40, for a total transaction of $28,197.00. Following the completion of the sale, the insider now directly owns 40,954 shares in the company, valued at $958,323.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Toast news, President Stephen Fredette sold 2,272 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $23.40, for a total value of $53,164.80. Following the sale, the president now owns 2,835,759 shares of the company’s stock, valued at approximately $66,356,760.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider James Michael Matlock sold 1,205 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $23.40, for a total transaction of $28,197.00. Following the completion of the transaction, the insider now owns 40,954 shares in the company, valued at approximately $958,323.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 180,510 shares of company stock valued at $4,381,885. Corporate insiders own 13.70% of the company’s stock.

Toast Company Profile

Toast, Inc operates a cloud-based digital technology platform for the restaurant industry in the United States, Ireland, and India. The company offers software products for restaurant operations and point of sale, such as Toast POS, Toast now, multi-location management, kitchen display system, Toast mobile order and pay, Toast catering and events, Toast invoicing, Toast tables, and restaurant retail; and hardware products, including Toast flex, Toast flex for guest, Toast go 2, Toast tap, kiosks, and Delphi by Toast.